Home / Business and Economy / Couple Sells Soda Brand for $1.95B, Avoids Spoiling Kids
Couple Sells Soda Brand for $1.95B, Avoids Spoiling Kids
23 May
Summary
- Started with apple cider vinegar experiments at home in 2016.
- Secured $400,000 investment on 'Shark Tank' in 2018.
- Sold Poppi to PepsiCo for nearly $2 billion last spring.
Allison and Stephen Ellsworth transformed a home remedy into the prebiotic soda brand Poppi, which they sold to PepsiCo for $1.95 billion last spring. Their entrepreneurial journey began in 2016 when Allison experimented with apple cider vinegar to alleviate stomach issues, leading to the creation of Mother Beverage.
The couple initially sold their concoctions at farmers' markets, gaining traction with a Whole Foods buyer. They financed the startup's early growth by maxing out credit cards, taking personal loans, and even selling a car.
A pivotal moment arrived in 2018 with a $400,000 investment from Rohan Oza on "Shark Tank." This funding and mentorship proved invaluable, leading to a rebrand as Poppi in 2020 with a more vibrant image.
Despite launching amid the COVID-19 pandemic, which presented significant challenges, Poppi rapidly grew to over $500 million in yearly sales by 2024. The founders prioritized their family, making sacrifices in their personal lives, including Allison being three months pregnant when they quit their jobs.
Now, with their substantial windfall, the Ellsworths are focused on raising their three children to be hardworking and kind, prioritizing experiences and life lessons over excessive material wealth. They plan to continue their entrepreneurial endeavors, starting another company soon.
